Third Rail Repertory Theatre
Third Rail Repertory Theatre experienced a significant deficit in 202306 after two years of surpluses, maintaining zero officer compensation.
EIN: 200092657 · Portland, OR · NTEE: A65 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $527K |
| Total Expenses | $679K |
| Program Spending | 80% |
| Net Assets | $76K |
| Transparency Score | 85/100 |
Is Third Rail Repertory Theatre Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Third Rail Repertory Theatre directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Third Rail Repertory Theatre
Third Rail Repertory Theatre (EIN: 200092657) is a nonprofit organization based in Portland, OR, classified under NTEE code A65. The organization reported total revenue of $527K and total assets of $101K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Third Rail Repertory Theatre's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Third Rail Repertory Theatre is a small nonprofit that has been operating for 23 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $570K |
| Total Expenses | $679K |
| Surplus / Deficit | $-108,152 |
| Total Assets | $99K |
| Total Liabilities | $22K |
| Net Assets | $76K |
| Operating Margin | -19.0% |
| Debt-to-Asset Ratio | 22.6% |
| Months of Reserves | 1.7 months |
Financial Health Grade: C
In 2023, Third Rail Repertory Theatre reported a deficit of $108K with expenses exceeding revenue, holds 1.7 months of operating reserves (limited), has a debt-to-asset ratio of 22.6% (moderate leverage).
Financial Trends
Over 12 years of filings (2011–2023), Third Rail Repertory Theatre's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +59.2% | +146.5% | -56.7% |
| 2021 | -33.4% | -37.3% | +58.9% |
| 2020 | +16.6% | -4.0% | +173.2% |
| 2019 | -23.9% | -14.2% | -39.9% |
| 2018 | -1.1% | -17.6% | +25.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Third Rail Repertory Theatre with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Third Rail Repertory Theatre allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $108K, with expenses exceeding revenue.
- Debt-to-asset ratio: 22.6%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating either a volunteer leadership structure or compensation through non-officer channels, which is highly favorable for donor perception and resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Third Rail Repertory Theatre's IRS 990 filings:
- Significant deficit in the most recent filing period (202306: Expenses $678,592 vs. Revenue $570,440)
- Fluctuating revenue and expense figures year-over-year, indicating potential instability in funding or operational costs.
Strengths
The following positive indicators were identified for Third Rail Repertory Theatre:
- Consistent reporting of 0% officer compensation across all filings, demonstrating strong financial stewardship regarding executive pay.
- Long history of IRS 990 filings (12 filings), indicating transparency and compliance.
- Periods of strong financial surplus (e.g., 202106: Revenue $358,220 vs. Expenses $275,286), showing capacity for effective financial management.
Frequently Asked Questions about Third Rail Repertory Theatre
Is Third Rail Repertory Theatre a legitimate charity?
Third Rail Repertory Theatre (EIN: 200092657) is a registered tax-exempt nonprofit based in Oregon. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $527K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does Third Rail Repertory Theatre spend its money?
Third Rail Repertory Theatre directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Third Rail Repertory Theatre tax-deductible?
Third Rail Repertory Theatre is registered as a tax-exempt nonprofit (EIN: 200092657). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Third Rail Repertory Theatre's spending goes to programs?
Third Rail Repertory Theatre directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Third Rail Repertory Theatre compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Third Rail Repertory Theatre is above average for NTEE category A65 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Third Rail Repertory Theatre located?
Third Rail Repertory Theatre is headquartered in Portland, Oregon and files with the IRS under EIN 200092657. It is classified under NTEE code A65.
How many years of IRS 990 filings does Third Rail Repertory Theatre have?
Third Rail Repertory Theatre has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $527K in total revenue.
Is Third Rail Repertory Theatre a good charity?
Based on the available data, Third Rail Repertory Theatre appears to be a good charity, particularly due to its consistent reporting of 0% officer compensation and a long history of financial filings. While the 202306 period showed a deficit, previous years demonstrated financial surpluses, indicating a generally well-managed organization.
What caused the deficit in the 202306 period?
In the 202306 period, Third Rail Repertory Theatre reported expenses of $678,592 against revenues of $570,440, resulting in a deficit of $108,152. The specific causes are not detailed in the summary data but would be found in the full IRS 990 filing, likely related to increased operational costs or decreased revenue streams for that year.
How has the organization's asset base changed over time?
The organization's assets have fluctuated significantly, from a high of $227,813 in 202106 to $98,656 in 202306. This indicates variability in its financial reserves and potentially in its investment or capital expenditure strategies.
Filing History
IRS 990 filing history for Third Rail Repertory Theatre showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Third Rail Repertory Theatre's revenue has grown by 32.2%, moving from $431K to $570K. Total assets decreased by 6.7% over the same period, from $106K to $99K. Total functional expenses rose by 54.9%, from $438K to $679K. In its most recent filing year (2023), Third Rail Repertory Theatre reported a deficit of $108K, with expenses exceeding revenue. The organization holds $22K in liabilities against $99K in assets (debt-to-asset ratio: 22.6%), resulting in net assets of $76K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $570K | $679K | $99K | $22K | — | — |
| 2021 | $358K | $275K | $228K | $57K | — | View 990 |
| 2020 | $538K | $439K | $143K | $55K | — | View 990 |
| 2019 | $461K | $457K | $52K | $63K | — | View 990 |
| 2018 | $607K | $533K | $87K | $102K | — | View 990 |
| 2017 | $613K | $646K | $70K | $158K | — | View 990 |
| 2016 | $685K | $682K | $93K | $148K | — | View 990 |
| 2015 | $646K | $799K | $71K | $129K | — | View 990 |
| 2014 | $923K | $833K | $219K | $124K | — | View 990 |
| 2013 | $580K | $665K | $102K | $96K | — | View 990 |
| 2012 | $567K | $522K | $178K | $88K | — | View 990 |
| 2011 | $431K | $438K | $106K | $61K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $570K, expenses of $679K, and assets of $99K (revenue +59.2% year-over-year).
- 2021: Revenue of $358K, expenses of $275K, and assets of $228K (revenue -33.4% year-over-year).
- 2020: Revenue of $538K, expenses of $439K, and assets of $143K (revenue +16.6% year-over-year).
- 2019: Revenue of $461K, expenses of $457K, and assets of $52K (revenue -23.9% year-over-year).
- 2018: Revenue of $607K, expenses of $533K, and assets of $87K (revenue -1.1% year-over-year).
- 2017: Revenue of $613K, expenses of $646K, and assets of $70K (revenue -10.5% year-over-year).
- 2016: Revenue of $685K, expenses of $682K, and assets of $93K (revenue +6.1% year-over-year).
- 2015: Revenue of $646K, expenses of $799K, and assets of $71K (revenue -30.1% year-over-year).
- 2014: Revenue of $923K, expenses of $833K, and assets of $219K (revenue +59.1% year-over-year).
- 2013: Revenue of $580K, expenses of $665K, and assets of $102K (revenue +2.4% year-over-year).
- 2012: Revenue of $567K, expenses of $522K, and assets of $178K (revenue +31.4% year-over-year).
- 2011: Revenue of $431K, expenses of $438K, and assets of $106K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Third Rail Repertory Theatre:
Data Sources and Methodology
This transparency report for Third Rail Repertory Theatre is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.